KSA: Mawani Initiatives Limit Rise in Commodity Prices

 Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
TT

KSA: Mawani Initiatives Limit Rise in Commodity Prices

 Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)

The measures and initiatives launched by the Saudi Ports Authority (Mawani) resulted in curbing the sharp rise in global shipping costs, thus limiting the increase of commodity prices that was registered globally following the Covid-19 pandemic.

Thanks to the initiatives launched by Mawani, the increase in commodity prices in the Kingdom was below international rates.

Logistics Specialist Nashmi Al-Harbi told Asharq Al-Awsat that the success of the economic plans could raise the Kingdom’s position in the global logistic performance index, and ensure huge flows in supply chains.

He underlined that Saudi ports were witnessing a significant growth in the number of ships and transshipments. This is a positive and motivating indicator for shipping companies and ship owners, who will put the Saudi ports on the master traffic plan, instead of some other ports, Al-Harbi said.

He added that the programs launched by Mawani were aligned with the goals of Saudi Vision 2030, which seek to transform the Kingdom into a global logistics platform.

The Saudi Ports Authority had implemented 17 qualitative initiatives in support of all beneficiaries of maritime transport services. Those programs contributed to achieving food security and a continued flow of goods and supply chains, in line with the objectives of the national strategy for transport and logistics services.

Moreover, Mawani has adopted a number of exceptional measures, including strengthening partnership with shipping lines, ensuring the efficiency of ship handling operations and facilitating and re-engineering the procedures for loading transshipment containers.

The authority worked on reviewing the obstacles facing shipping lines and finding the appropriate solutions, and organized a number of joint workshops with the private sector to discuss opportunities to support exporters and importers, with the aim of improving the customer experience, facilitating and simplifying procedures and increasing operational efficiency.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
TT

GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.